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Indorama acquires Bevpak

0:41 min Management
Bangkok, Thailand

Bevpak is one of the largest manufacturers of PET preforms in West Africa and is located in Ibadan, Nigeria, with a production capacity of 18,000 Mts. per annum.

Indorama Ventures Public Company Limited (“IVL” or the “Company”) would like to inform that it has, through its indirect subsidiary, Indorama Netherlands B.V. (“INBV”), signed a definitive Share Purchase Agreement on February 6th, 2019 with Church Street Trustees Limited as trustees of the SI Trust, BTI Overseas Limited and Capital Alliance Private Equity II Limited, for the acquisition of 100% of the share capital of Bevpak (Nigeria) Limited (“Bevpak”).

The value of the above acquisition, calculated in accordance with the regulations of the Capital Market Supervisory Board and the Stock Exchange of Thailand, as prescribed by the regulations of the Stock Exchange of Thailand Re: Disclosure of Information and Other Acts of Listed Companies Concerning the Acquisition and Disposition of Assets, 2004 (as amended), is less than 15 percent and the total size of all transactions in the past 6 months also does not exceed the 15 percent threshold limits as prescribed in the regulations. This transaction is expected to be completed within Q1, 2019, subject to regulatory approvals.

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